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Focus Needed on Growth

Pimco's Gross says governments should not concentrate on cutting debt.

By John Detrixhe and Tom Keene | Updated on September 02, 2011

Bill Gross of Pacific Investment Management Co. said governments should be focusing on creating growth rather than reducing debt after a report showed employment in the U.S. stagnated in August.

“To do it right now is almost suicidal,” Gross, manager of the world’s biggest bond fund, said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt.

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